Ardelyx: Q2 Earnings Insights

Shares of Ardelyx ARDX moved higher by 2.0% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 60.71% over the past year to ($0.45), which missed the estimate of ($0.36).

Revenue of $1,313,000 declined by 28.49% from the same period last year, which beat the estimate of $740,000.

Outlook

Ardelyx hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Technicals

Company's 52-week high was at $9.23

52-week low: $1.43

Price action over last quarter: down 77.00%

Company Description

Ardelyx Inc is a biotechnology company focused on the discovery, development, and commercialization of molecule and polymeric therapeutics to treat the gastrointestinal tract and cardiorenal diseases. The company has a proprietary drug discovery and design platform. Its lead product candidate is tenapanor, which aims to reduce the absorption of dietary sodium and phosphorus for the treatment of kidney disease, irritable bowel syndrome with constipation, and hyperphosphatemia in patients with dialysis.